Social Security
Social Security’s Earnings Test—A Source of Confusion and Misunderstanding
The fact that claiming retirement benefits early can result in withheld payments if you continue to work comes as a surprise to many…and not a very pleasant one! A recent report by the Social Security Advisory Board, a bipartisan, independent…
Knowing How Your Benefit Increases (or Decreases) is Important
As most folks are aware, eligibility for Social Security benefits begins at age 62. What many folks are not aware of, however, is how much the benefit claimed at that age will be reduced from what would be available at…
A Reminder of the Benefits of a mySSA Account
Our AMAC Foundation Social Security Advisory Service stands ready and able to help the public with questions and concerns about this massive senior benefit program, but often we encounter situations where sensitive, personal information is needed to address problems. It…
The Good News and the Bad News on 2024 Social Security Changes
Social Security beneficiaries are looking forward to the 3.2% cost-of-living adjustment and, despite its comparison to the 2023 8.7% bump, the fact that it shows evidence that the brutal inflation of the past three years may be lessening. For those…
Senate Confirms Former Maryland Governor as SSA Commissioner
On a 50-11 vote, the U.S. Senate yesterday ended the two-year absence of a permanent Social Security Administration leader. Former Maryland Governor Martin O’Malley will assume the position of Commissioner for the agency, replacing acting Commissioner Kilolo Kijakazi and taking…
More on the Social Security “Clawback” Issue: SSA Acknowledges Incorrect Information
As noted in yesterday’s headline article on this site, the doubling in size of the number of Americans receiving payback demands annually has contributed to elevated emphasis by Congress on the problem. In response to criticism, Social Security Administration (SSA)…
Another “Breakeven” Point to Think About
When thinking about breakeven points on Social Security benefits, most of us focus the question on whether or not to file at our earliest eligible age (62) or our full retirement age (66 or 67). if you’re planning to wait…
“Clawback” Matter Rises on Congressional Priority List
The Senate Finance Committee last week announced its intent to accelerate attention to the Social Security Administration’s massive overpayment problem…the problem through which more than two million Americans each year are subject to demand letters for repayment of benefits they’ve…
Ask Rusty – Are Spousal Benefits Always a Factor?
Dear Rusty: Both my wife and I have worked our entire lives. When we retire, will we both be entitled to full benefit amount each, or will there always be a spousal factor in there? Also, how are those benefits…
Dissatisfaction with Social Security’s COLA Highlighted by Study
This isn’t really news, but many seniors have concerns about the 3.2% cost-of-living adjustment set to kick in next month. These concerns focus on a few well-known and frequently discussed criticisms of the current process, specifically that the adjustment is…